October 10, 2001 – The North American Securities Administrators Association (NASAA) issued the following statement after the announcement that Commissioner Laura Unger intends to resign from the Securities and Exchange Commission this fall:

“Commissioner Unger recognized early on the many possible issues raised by online brokerage and her approach was both thoughtful and deliberate,” said Marc Beauchamp, NASAA’s executive director. “To write her report, ‘Online Brokerage: Keeping Apace of Cyberspace,’ Commissioner Unger and her staff spent many months consulting with investors, industry and other regulators. The result was both balanced and insightful.

“In addition, Commissioner Unger served as liaison to NASAA and state securities regulators. We appreciate her inclusiveness, access and advocacy. We wish her the best as she begins this new chapter in her career.”